Robert Reich tells us that despite the talk about moral hazard, the rich have plenty of safety nets: The real moral hazard in this saga started when Fed Chair Ben Bernanke cut the Fed’s discount rate (charged on direct federal loans to banks) and announced that the Fed would take whatever action was needed to […]
Read more...Aah, there is so much good stuff out there that I can’t begin to do it justice. Hopefully you will enjoy these items: VoxEU features a very good international study on the gender income gap. The Boston Globe tells us that negotiating courses don’t address the fact that people lie. APEC is set to issue […]
Read more...Courtesy Paul Kedrosky at Infectious Greed comes this chart that shows over time how renters’ reasons for becoming home owners has changed. While this is a UK sample, given the similarities in the two cultures, and the runup in property values on both sides of the Atlantic, it’s not hard to imagine that a US […]
Read more...I am reading a very useful primer, “Cognitive biases potentially affecting judgment of global risks,” by Eliezer Yudkowsky, one of the contributors to the blog Overcoming Bias (we made use of one of his posts yesterday). He focuses on existential risk, meaning risks to human existence. Since many people would regard an economic collapse as […]
Read more...One sign that market conditions are, at least temporarily, on the mend: both the Financial Times and the Wall Street Journal have stories on moral hazard. If you have time for sermons, things can’t be all that bad. And in confirmation, Asian markets are up solidly as of this hour. Of the two stories on […]
Read more...Back at my desk after over two weeks of holiday and wanted to get at least one post out before responding to some comments that seemed to call for a reply and getting back in touch with news and commentary. The Asian Development Bank issued a report that found that income inequality is on the […]
Read more...Monsanto is known for heavy handed, even ruthless, business tactics. But occasionally underdogs score a victory. I have long been astounded at the premise that Monsanto could attempt to block farmers growing their own seeds, and the Public Patent Foundation successfully challenged the agribiz company on that issue: The Public Patent Foundation (PUBPAT) announced today […]
Read more...I’m going to tell a personal story and hope you regard it as useful rather than self indulgent. As regular readers may know, I am currently on a cruise with my family. If you ever think of going on a cruise, and you value your life, avoid Oceania Cruises. Safety is paramount, and they blew […]
Read more...Apologies to be somewhat late to this item and more terse (and spare on links for some of the arguments) than I’d normally be (I’m at sea and the satellite connection is pricey). Monday, the Financial Times reported that a poll it commissioned jointly with Harris found widespread international opposition to globalization, as well as […]
Read more...Our colleague Susan Webber of Aurora Advisors has a new article, “Fit vs. Fitness,” in the current issue of The Conference Board Review. The editors were initially skeptical that anything new could be said on the subject of the glass ceiling, but this article persuaded them otherwise. We hope you’ll agree. She draws on personal […]
Read more...In the wake of Murdoch succeeding in his bid for the Wall Street Journal, this review by Russell Baker, “Goodbye to Newspapers?” on two books describing the decline of the newspaper, and its implications for the public, is aptly timed. Not surprisingly, Baker sees the corporate, as opposed to family, ownership, as a major culprit. […]
Read more...Disclosure: I used to be a huge fan of the Economist, because it was well written, broad ranging, intelligently non-partisan, and (at least politically) often contrarian. But ever since the start of the Bush era, it has taken a marked shift to the right, in both its political and economic coverage. Take this story from […]
Read more...Height is influenced by the quality of nutrition in childhood and as a result, in many societies, it has also been a class indicator. One example: Winston Churchill, who as a Liberal Party member and Home Secretary, was instrumental in the passage of minimum wages and the Liberal Reforms, which among other things, provided for […]
Read more...This Penn State study, reported at PhysOrg.com, ascertained that narcissistic CEOs gravitate towards bold moves, like big acquisitions or marked changes in strategy, which leads to more variable (although no worse on average) performance. The interesting thing about this finding is the disconnect between Wall Street pressures and boardroom hiring practices. At least according to […]
Read more...Why do Americans save so little? It’s the temptation, stupid. John Kay of the Financial Times ponders why Americans and Brits are so lousy at saving when our advanced capital market offer us more attractive investment (and speculative) vehicles than other economies. Because they also offer more, and more varied borrowing products, and let’s face […]
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